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Consent to Rent / Buy New Home
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Billieboy7
Posts: 1 Newbie
My husband and I live in a house which I pay the mortgage on. We would like to move elsewhere and ideally be able to rent out my house and move into a new home with the mortgage being in my husbands name. Is this possible? What are the pro's and con's? Would I be better selling my property and then getting a joint mortgage with my husband for a new property?
My husband does not have a mortgage at present.
My husband does not have a mortgage at present.
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Comments
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1. Do you want to be a landlord?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Yes it is possible.
Do you want to be a Landlord and the hassle/risk that goes with it?
Have you crunched the numbers, ie with income tax, repairs and LL obligations?
Does your husband have enough deposit and salary to be able to get a mortgage?
Will your lender give you consent to let?
Is the chargeable rent at least 30-40% more than the mortgage?
Lots of questions to answer.0
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